RSI: Currently, RSI (14) is clearly converging downwards to the prevailing price dips on daily that signals more selling pressures.

Stochastic: This leading oscillator has approached oversold territory but still evidences bearish crossover. %D crossover at 30 zones that conforms to these price dips with intensified selling momentum .

Those who want to aggressively short this pair in spot market, can add covered put option strategy.

Options trading strategy involving the writing of an (1%) OTM put options with shorter tenors while shorting the obligated underlying spot FX of EURAUD outrights. By doing so. the maximum return is equal to the premiums received for the options sold and let underlying FX tumble.

Alternatively, the trading recommendation would be good to go short in near march 2016 futures contracts for an unlimited targets below 1.5343 levels with strict stop loss at 1.5479. The short futures position is also used by a traders to lock in a trading price of a FX that he is going to sell in the future. Please be noted that as the expiry period approaches, the futures price converges to the spot FX of EURAUD .

To initiate this short position margin requirement is needed, Initial Margin % would be the % of amount required to trade in any futures contract. Lesser the volatility of the pair, lesser is the initial margin and higher the leverage benefit and vice-versa.